Iranian Speaker publicly calls out: The armed forces "are "waiting" for U.S. ground actions. The Pentagon is reported to be preparing a "weeks-long ground operation" plan. Oil prices surge as the Nasdaq enters correction territory.

However—U.S. stocks show "unexpected resilience," with WSJ analysts noting that investors are focusing on long-term profits rather than short-term geopolitical shocks.
The reaction of BTC is even more interesting. After a USD 300M long liquidation, the price stabilized above USD 66,000 without continuing to crash. Gold surged while BTC did not follow suit—it's neither risk-on nor risk-off; it's waiting.
USDC saw a net redemption of 1.1 billion USD in 7 days, with circulation dropping to 78 billion. Stablecoins are contracting, but it's not a panic redemption—reserves of 78.2 billion USD still provide ample coverage.
If the Strait of Hormuz is actually blocked, then oil prices will break USD 100, and BTC is likely to fall below USD 60,000 in the short term, but will be re-priced as a non-sovereign asset in the medium term.
Time window: Pay attention to the Iran-U.S. dynamics in early April.$BTC $USDC USDT